DONALD TRUMP'S MANY BUSINESS FAILURES, EXPLAINED

[groundloop]

I just came across this article on the Newsweek website, it's absolutely fascinating.

http://www.newsweek.com/2016/08/12/donald-trumps-business-failures-election-2016-486091.html

It goes into detail about many many tRump business dealings (most of them failures which he somehow managed to profit from).

For instance, he negotiated with Native American casinos to get a management deal but failed to reach an agreement. He then went before Congress and testified that Native American casinos were breaking all sorts of laws, and managed to throw out a bunch of racist insults in the process.

There are also details about the extent that daddy helped tRump, far more than has been acknowledged.

[Orsino]

1. He sucks at business, but the system is heavily rigged in his favor...

...so that he never misses meals.

[NurseJackie]

2. I was just now reading about the FINANCIAL CRIMES of Trump Taj Mahal

https://www.fincen.gov/news_room/nr/pdf/20150306.pdf

The Financial Crimes Enforcement Network (FinCEN) today imposed a $10 million civil money penalty against Trump Taj Mahal Casino Resort (Trump Taj Mahal), for willful and repeated violations of the Bank Secrecy Act (BSA). In addition to the civil money penalty, the casino is required to conduct periodic external audits to examine its anti-money laundering (AML) BSA compliance program and provide those audit reports to FinCEN and the casino’s Board of Directors.

Trump Taj Mahal, a casino in Atlantic City, New Jersey, admitted to several willful BSA violations, including violations of AML program requirements, reporting obligations, and record keeping requirements. Trump Taj Mahal has a long history of prior, repeated BSA violations cited by examiners dating back to 2003. Additionally, in 1998, FinCEN assessed a $477,700 civil money penalty against Trump Taj Mahal for currency transaction reporting violations.

“Trump Taj Mahal received many warnings about its deficiencies,” said FinCEN Director Jennifer Shasky Calvery. “Like all casinos in this country, Trump Taj Mahal has a duty to help protect our financial system from being exploited by criminals, terrorists, and other bad actors. Far from meeting these expectations, poor compliance practices, over many years, left the casino and our financial system unacceptably exposed.”

Trump Taj Mahal admitted that it failed to implement and maintain an effective AML program; failed to report suspicious transactions; failed to properly file required currency transaction reports; and failed to keep appropriate records as required by the BSA. Notably, Trump Taj Mahal had ample notice of these deficiencies as many of the viol ations from 2012 and 2010 were discovered in previous examinations.

[uppityperson]

3. K&R